(*all currency translations above are approximate and based on an average 108-yen-to-dollar exchange rate.)

Forecast

For the fiscal year ending March 31, 2020, TMC has not revised its consolidated vehicle sales forecast from 8.95 million units, in consideration of the latest sales trends worldwide.

TMC revised the consolidated financial forecasts for the fiscal year ending March 31, 2020. Based on an exchange rate assumption of 108 yen to the U.S. dollar and 121 yen to the euro, TMC now forecasts consolidated net revenue of 29.5 trillion yen ($273.148 billion), operating income of 2.50 trillion yen ($23.148 billion), income before income taxes of 2.91 trillion yen ($26.944 billion), and net income of 2.35 trillion yen ($21.759 billion).

(*all currency translations above are approximate and based on an average 108-yen-to-dollar exchange rate.)

1Income before income taxes and equity in earnings of affiliated companies

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